I wonder how many consumer level HDDs in RAID5 will take to saturate a 10Gbps connection. My napkin math says that from 1,250 MB/s we can achieve around 1,150 MB/s due to network overhead so it means about 5 Red Pro/ Ironwolf Pro (reading at about 250–260 MB/s each) in RAID5 to saturate the connection.

I though raid5 is highly discouraged

I can't remember the details, but was that not specifically for hardware raid controllers? 2000s style.

I think for home use with MDADM or raid z2 on zfs it's just gucci. It's cost effective.

Z2 means you'll have two parity disks, like in RAID-6. That should be okay. The trouble with RAID-5 are the rebuild times that rise to multiple days with modern disk sizes. The duration of time you run effectively without redundancy grows uncomfortably large. Especially if you don't have a hot or even cold spare around.

Ah yes, I mixed up raid5 and 6.

I think it's still fine for casual home setups. Depending on data and backup strategy.